Spending so much on arms that the economy of an adversary collapses is called market warfare

A debt that rises faster than nominal GDP will impose the following opportunity costs in the future:

a. A permanently higher tax burden. b. A period of inflation. c. Reduced government outlays relative to GDP d. Higher taxes relative to GDP. e. All of the above.

The substitution effect of a price change is the change in consumption that results from the movement to a new indifference curve

a. True b. False Indicate whether the statement is true or false